Looks like Americans did more than eat turkey and put up their holiday lights over the long Thanksgiving weekend.
According to new analysis by Adobe Digital Insights (ADI), online sales from Thanksgiving through Cyber Monday (Nov. 23 through 27) clocked in at just under $20 billion, up 15.2% year-over-year (YoY). Mobile was a key driver in that growth, representing 33.1% of online revenue and is up 22.2% YoY.
Cyber Monday was the true winner, setting the record for the largest online shopping day in history with $6.59 billion in sales. That’s $1 billion more than Cyber Monday 2016. Revenue driven by smartphones also hit an all-time high, reaching $1.59 billion and up 39.2% YoY.
Overall web traffic to retailer sites increased by 11.9% on Cyber Monday, with the season average at 5.7%. Mobile, representing 47.4% of visits (39.9% smartphones, 7.6% tablets), set a new record. Mobile transactions also closed at a 12% higher rate YoY, ADI found. For purchases made on smartphones, Apple iOS led with an average order value (AOV) of $123, ahead of Google Android at $110.
“Shopping and buying on smartphones is becoming the new norm and can be attributed to continued optimizations in the retail experience on mobile devices and platforms,” said Mickey Mericle, vice president, marketing and customer insights, at Adobe. “Consumers are also becoming more savvy and efficient online shoppers. People increasingly know where to find the best deals and what they want to purchase, which results in less price-matching behavior typically done on desktops. Millennials were likely another reason for the dramatic growth in mobile, with 75% expecting to shop via their smartphone."
Black Friday and Thanksgiving Day brought in over $5.03 billion and $2.87 billion in revenue, respectively. Search drove the majority of online sales on Cyber Monday at 41.7% (paid search at 22.9%, organic search at 18.8%). Direct traffic and email drove 24.8% and 24.9%, respectively. Paid search saw the strongest growth at 8.3% YoY.
The holiday shopping season so far (Nov. 1 to 27) has driven a total of $50 billion in online revenue, a 16.8% increase. ADI predicts this will be the first-ever holiday season to break $100 billion in online sales.
About Adobe Digital Insights
Adobe Digital Insights publishes research on digital marketing and other topics of interest to senior marketing and e-commerce executives across industries. Research is based on the analysis of select, anonymous, and aggregated data from more than 5,000 companies worldwide that use the Adobe Digital Marketing Cloud to obtain real-time data and analysis of activity on websites, social media, and advertising.
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